SUMMARY
Tiki had managed more than 100 Mn downloads on the Google Play Store
Users will not be able to create short videos or watch streams after June 27
Tiki’s closure comes as many Indian short video platforms are also struggling
Social media app Tiki is shutting down operations effective June 28 due to ‘the recent challenges faced by the tech industry’. Tiki announced the shutdown in a recent Twitter post on Friday (June 9).
“We regret to inform you that Tiki will be shutting down its operations. As of 11:59 PM India Time, June 27, 2023, all Tiki functions and services will cease,” the startup said in a statement.
Users will not be able to create short videos or watch streams on Tiki after 11:59 PM IST on June 27, it added. Tiki further said it would delete all user data from its servers in India and Singapore after the shutdown, recommending its users download any videos important to them.
The shutdown comes out of the blue as Tiki has managed more than 100 Mn downloads on the Google Play Store, per the app’s page on the Play Store.
The app was ranked among the top 30 grossing apps on the Google Play Store in India and stood as high as eighth among the top free social apps on the platform. However, since the announcement, the app has fallen off the top charts.
“The recent challenges faced by the tech industry have led to the closure of numerous startups, including Tiki,” the platform said.
Multiple short video platforms have shuttered operations recently, including Bigo Live, WeChat, Helo and Likee. Recently, Xiaomi-owned short-video platform Zili said it would shut down its operations.
Tiki’s closure is another domino falling in a series of events that has left India’s social media space a wasteland.
Where Are All The Indian Short Video Apps?
Even though massive funding has flown through India’s short video giants, many have been struggling with several factors.
The likes of ShareChat and Chingari have seen founders quit, and Trell’s biggest backer, Sequoia, exited in February 2023 at a 78% loss. Most of these companies have also witnessed a sharp decline in daily active users (DAU), downloads and traffic on their platforms.
The situation is grim for Trell, Roposo, ShareChat and Josh, operated by unicorns. The parent company of ShareChat and Moj, Mohalla Tech, fired 500 employees earlier in January citing market conditions.
While the existing players are going through a major churn and losing out to Instagram and YouTube, the likes of Myntra and Reliance Jio are still looking in.
As the former has recently launched a short video platform – Myntra Minis – to highlight products across multiple categories, including new launches and global trends. Jio, on the other hand, collaborated with the Rolling Stone India and ad agency Creativeland Asia to launch its short video vertical ‘Platform’ in November 2022.
